The Bureaus, Inc. has a history of embracing unique opportunities to partner with forward-thinking legal and technology professionals. These partnerships allow The Bureaus to provide real-world input and participate in ongoing QA phases to help innovative companies launch efficient technology solutions for concrete business challenges. In addition to previous design and development partnerships with companies including ComplyARM and Latitude, The Bureaus most recently had the chance to collaborate with quointec, a legal compliance solution that has launched automation-based products aimed at legal resource time, cost, and compliance efficiencies on both sides of the coin (or in this case, quoin)—consultative law firms and compliance-based organizations requiring legal advice.
Leading by Design
The executive team at The Bureaus enjoys sharing the excitement and enthusiasm of seeing new, worthwhile ideas reach actualization after active involvement throughout the process. The team recognizes that innovators require trustworthy beta partnerships for business-use insight and perspective. Participation and thoughtful contribution to the development process positions The Bureaus with the opportunity to be a “first mover” in the industry and utilize burgeoning industry technologies already known to be well-tailored to specific business needs.
For a business that resists settling for the status quo, strives to prune inefficiencies, and targets out-of-the-box opportunities for improvement, beta partnerships are a match made in ARM heaven. In the original development of the compliance management platform by ComplyARM, industry leader and ComplyARM co-founder Adam Parks worked closely with Bureaus executives to better understand the real-world needs and servicer perspective to deliver as optimal a product as possible. Marian Sangalang, Vice President at The Bureaus, was also heavily involved in helping the Latitude team understand the needs of their debt buyer customers. Participating in the Advisory Council, she contributed to Latitude’s collaborative feedback loop, providing specific input that would help put the business needs in the driver’s seat.
“Compliance is a huge part of the industry, especially over the last decade. Platforms and tools like these help us create a more standardized, yet more nimble and flexible compliance management system. Participating as beta and ultimately investing in the end product reduces costs for us in the long run because we already know the product is best for us. We already understand the value-add and real-world application,” said Aristotle Sangalang, President and Chief Compliance Officer at The Bureaus.
The Launch of quointec
When The Bureaus team first started chatting with quointec founders Dara Tarkowski and Randy Rivera about their vision, they mutually recognized the need for a way to reduce use-of-attorney costs, increase the scalability of the letter review process, and create more consistent and objective review feedback. It was important to everyone to empower businesses to do more internally and save resources.”
“The letters are not a place you want to be subjective or wrong. We work in a litigious environment so compliance, uniformity, and consistency are critical. We could quickly see how the ARM Advisor Tool concept made sense, and we realized this could be an onboarding and audit tool as well. It’s been developed in such a flexible way that creditors can use it too. It’s a short-term investment with long-term reduction in overall costs,” stated Marian Sangalang, Vice President at The Bureaus.
The Bureaus is honored to have collaborated with such bright minds on these projects and looks forward to what kinds of innovations the future will bring as the industry continues to adjust to evolving and mounting regulatory pressures while ensuring service excellence for clients and consumers.
To learn more about the products or story of Quointec, please visit quointec.com.
quointec, powered by Actuate Law, is a tech-focused legal compliance company that pioneered the innovative application of automation technology developed specifically for helping compliance-focused organizations solve their compliance challenges in a faster, more consistent, more cost-effective manner. Founded by experienced attorneys and finance professionals who understand the need for more balanced, sensible time and cost solutions, the company has developed a Data Breach Notification Advisor tool as well as an ARM Communications Advisor tool.
About The Bureaus, Inc.
The Bureaus, Inc. is a master servicer for accounts receivable portfolios and a Certified Receivables Business (CRB) by the Receivables Management Association International. Using cutting-edge technology, internally developed proprietary tools, and the vast expertise of its management team, we combine technological strategies with data mining capabilities to identify opportunities not usually found by other asset management firms. The Bureaus was founded in 1928 and is located in Northbrook, Illinois.